  What's new for T1/T2 Internet version 16.01? |
The latest DT Max program update is now available for downloading. It features the T1/TP-1 program for the tax years 2001 to 2012 inclusively and the T2 program for fiscal periods ending from 2001 to 2013 and fully supports Corporation Internet Filing (T2, CO-17 and AT1).
Please note that in regard to the T1/TP-1 program, version 16.01 supports paper filing but does not support EFILE transmission due to its early release date. The EFILE module will be integrated in the next version of DT Max that will be stamped 16.10 and made available on CD-ROM and via www.dtmax.ca to all DT Max clients. This will take place as soon as we receive all relevant certifications towards the end of January or early February 2013.
Furthermore, please be advised that this issue is an abridged version of the standard T1 "What's New" release notes as it only provides a basic recap of changes implemented. Detailed keyword and tax change information will be released with version 16.10 of DT Max T1.
In this version...
DT Max T1
Program certification
DT Max is certified for paper filing under the following authorization numbers:
Federal: RC-12-119
Quebec: RQ12-TP77
Version highlights
Enhancements
Calculation of the CCTB under shared custody
As of the 2012 taxation year, Canada child tax benefits (and child assistance payments in Quebec) in a shared custody situation can now be calculated and managed in DT Max. This has been made possible via the new option "The child is in shared custody" within the keyword CTB-CHILD-OV . This entry must be made in each dependant's (i.e. child's) file that is in shared custody. When doing so, DT Max will calculate 50% of the payment that the individual would have received if the child lived with him or her all of the time.
New forms
- RC359 - Tax on Excess Employees Profit-Sharing Plan Amounts for 2012
Form RC359 is used to calculate the tax on excess employees profit-sharing plan (EPSP) amounts. To complete this form, you need to use the keyword EPSP-Contrib to enter box 41 of the T4PS slip. Please note that the Quebec equivalent of this form (i.e. form TP-1129.RI-V - Special Tax on an Excess Amount Received Under a Profit-Sharing Plan) will be available only as of the next version.
- RC360 - Saskatchewan Graduate Retention Program
Form RC360 is used to calculate the Saskatchewan Graduate Tuition Tax Credit and, as applicable, the Saskatchewan Graduate Tuition Refund. To complete this form, you need to use the same keywords as the keywords that were used to claim the Graduate Retention Program (i.e. the keyword group Tuition-Rebate ).
- ON(S12) - Ontario Healthy Homes Renovation Tax Credit
Schedule ON(S12) is used to calculate the Ontario Healthy Homes Renovation Tax Credit. To complete Schedule ON(S12), you must use the keyword Med-Homes-Renov to enter the eligible expenses along with the dates when such expenses were paid or incurred.
- BC(S12) - British Columbia Seniors' Home Renovation Tax Credit
Schedule BC(S12) is used to calculate the British Columbia Seniors' Home Renovation Tax Credit. To complete Schedule BC(S12), you must use the keyword Med-Homes-Renov to enter the eligible expenses along with the date when such expenses were paid or incurred.
- T1014-2 - British Columbia Training Tax Credit for Shipbuilding and Ship Repair Industry (Employers)
Form T1014-2 is used to calculate the new British Columbia Training Tax Credit for Shipbuilding and Ship Repair Industry. To complete this form, you need to use the keyword TrainingTaxCr .
- LM-53-V - Insurable Earnings Under the QPIP and Pensionable Earnings Under the QPP of a Person Responsible for a Family-Type Resource or an Intermediate Resource
Form LM-53-V is used to determine the amount of insurable earnings and pensionable earnings in order to calculate the premiums under the Québec parental insurance plan and the contributions under the Québec Pension Plan for a person responsible for a family-type resource or an intermediate resource. To complete this form, you must use the keyword EXPENSES-PAID to enter the expenses incurred by the resource to receive assistance or be replaced in the course of the delivery of its services.
Preliminary status advisory
DT Max references (links to our Knowledge Base)
Changes to the Quebec sales tax (QST)
Pursuant to the harmonization of the Quebec sales tax (QST) with the goods and services tax (GST), as of January 1, 2013, the QST will be calculated directly on the selling price not including GST. To maintain the same level of QST currently collected on each sale, the QST rate will be raised from 9.5% to 9.975%.
To reflect the aforementioned change to the QST in your billing, you must implement the following changes within your billing preferences by default (your billing preferences are located under the menu Preferences in DT Max.) Under the Tax information tab of the Automatic billing setup, remove the check mark next to Apply GST before applying PST, then change the PST rate to 9.975%. Finally, click on the "OK" button to save these changes in the program.
Messages from Revenu Québec
New payment method for the settlement of tax debts
Individuals and individuals in business can now use pre-authorized debit (PAD) to settle their tax debts. By proposing a PAD payment agreement, they can divide the amount of the debt into up to 12 consecutive monthly instalments. The amount of the payment is then debited automatically from their accounts every month, making settling tax debts easier and faster. Please visit our website for more information.
Reminder
Please refer to the edition of "What's new for T1/T3 Internet version 15.30?" to learn about other enhancements, diagnostics, forms, keywords and options implemented for tax year 2012 that could have a significant impact on your preparation of personal income tax returns.
DT Max T2
Program certification
Federal:
For DT Max T2 version 16.01, the federal barcodes and the Corporation Internet Filing module have received full CRA certification valid for taxation years ending up to and including April 30, 2013 under the DT26 stamp.
Quebec:
Version 16.01 has also undergone an authorization process with Revenu Québec for the paper (including barcode form COR-17.U) and EFILE versions of the CO-17 return, and has been approved under number RQCO-1202.
Version highlights
New feature: Ctrl+F7 keys
Starting with version 16.01, a new feature available to the DT Max users has been added to the "Tax return" screen in DT Max. By using the Ctrl+F7 keys, you will be able to display the field numbers on the tax return.
Changes affecting keyword fields
Given that several Quebec forms have undergone changes pertaining to their entry fields, these changes are therefore reflected in the entry fields of the corresponding keywords for this new version of DT Max T2.
- For the form CO-1029.8.36.SM (Tax Credit for the Production of Performances), the related keyword PRODUCTION-PERIOD has been added a field for entering the required mandatory date.
- For the form CO-1029.8.36.SP (Tax Credit for Film Production Services), the keyword CertificateNo has been replaced with CertificateNo.f for the line 05B on the form. The users must re-enter this info due to a change in the required number of characters.
- For the form CO-1029.8.36.DF (Tax Credit for Film Dubbing), the field for keyword CertificateNo is now 7 characters. We recommend that the users verify that the correct number of characters has been entered.
- For the form CO-1029.8.36.CP (Tax Credit for the Construction of Public Access Roads and Bridges in Forest Areas), the fields for the related keywords CERTNUMBER and IDENTNUMBER are now 25 characters and the field for keyword QST.CO is now 10 characters.
- For the form CO-1029.8.36.7 (Tax Credit for an In-House Design Activity), the field for keyword Cert-Number.e is now 18 characters.
- For the form CO-1029.8.36.5 (Tax Credit for a Design Activity Carried Out by an Outside Consultant), the fields for the keywords Cert-Number and Cert-Number.r are now 18 characters.
- For the form CO-1029.8.36.TM (Tax Credit for Multimedia Titles), the field for the keyword Cert-Number.m is now 10 characters.
- For the forms RD-1029.7 (Tax Credit for Salaries and Wages (R&D)) and RD-1029.8.16.1 (Tax Credit for Private Partnership Pre-Competitive Research), the field for the keyword QST.pt is now 10 characters.
- For the forms CO-17S.36 (First Return of an Amalgamated Corporation/ First Return of a Parent Corporation after Wind-Up of Subsidiary Corporation), CO-17 (Corporation Income Tax Return) and CO-17.SP (Information and Income Tax Return for Non-Profit Corporations), the field for the keyword Tax-AcctQue is now 16 characters.
- The field for the sub-keyword ReasonChange in StatusChange is now a paragraph keyword and must be re-entered.
T2 BCR and Alberta RSI: Changes in the listing order
Please note that the T2 Bar Code Return has been moved up in the list of forms displayed on the "Tax return" screen (under "Select a page"), so that it appears after the federal return and schedules.
Likewise, the Alberta Return and Schedule Information form has been moved up the list as well so that it appears after the Alberta return and schedules.
New CRA Web service for Corporate Internet Filing
The Canada Revenue Agency is now offering a web service for federal corporate internet filing purposes. This service is available for returns with taxation year ends of 2009 and onward.
As a result of this change DT Max now supports an automated method of transmission. This new method can automatically transmit a file, update its status, and generate an efile report.
We would therefore ask all of our T2 clients to please complete their T2 efile setup anew. As a result of this recent change, the semi-automatic method is no longer available as an option.
Please also note that, although the automatic method is available for filing prior years, efile reports can only be viewed for 2012 taxation years and onward. For returns with a taxation year end prior to 2012, the EFILE transmission log can be used to keep track of the client's progress.
You may also refer to our Knowledge Base for instructions on how to file through Corporate Internet Filing with the Canada Revenue Agency.
Registration fee for the enterprise register (REQ) (Quebec line 441b)
As announced in the News section on the Registraire des entreprises du Québec website on December 7th, 2012, at http://http://www.registreentreprises.gouv.qc.ca/en/actualites/2012-12-07.aspx, the registration fee for the enterprise register (line 441b of the Quebec Corporation Income Tax Return) will be indexed on January 1st, 2013, as follows:
- $83.00 for a corporation or a for-profit legal person, a mutual insurance company or other (formerly $81.00);
- $40.00 for a cooperative (formerly $39.00);
- $34.00 for a non-profit legal person (incorporated association), a condominium association or other (formerly $33.00).
Amended T2 Bar Code Return
As of October 2012, CRA can capture the information from an amended return in the T2 BCR format. An amended T2 BCR cannot be used to change the following information:
- 200010: Head office address change
- 200020: Mailing address change
- 200030: Location of books and records change
- 200910, 200914 and 200918: Direct deposit information
- 200990: Language of correspondence
To identify an amended T2 BCR, use the keyword StatusChange and choose the option "Amended return". This will generate an amended return indicator (1) at line 997 of Schedule 200. Then, enter the reason or the relevant description of the changes by using the sub-keyword ReasonChange. This information will be carried over to line 996 of Schedule 200. If the amended return indicator is 1 (Yes) at line 997, the letter "A" will be printed in the first page of the T2 BCR.
The amended T2 BCR must include all returns and schedules, i.e. not only the returns and schedules revised.
All schedules included in the amended T2 BCR are considered as amended. This means data from amended schedules will overlay the previous data.
Budget change – Increase in the contribution by financial institutions (CO-1159.2)
Please note that as per the latest Quebec budget changes, for the period from January 1, 2013 to March 31, 2019, the rates of the temporary contribution paid by financial institutions will be:
-
for amount paid as wages:
- in the case of a bank, a loan corporation, a trust corporation, or a corporation trading in securities, 2.8%
- in the case of a savings and credit union, 2.2%
- in the case of any other person, 0.9%
- for insurance premiums and amounts established regarding insurance funds, 0.3%
New forms
Federal:
- Schedule 71 – Income Inclusion for Corporations that Are Members of Single-Tier Partnerships (2011 and later tax years)
- Schedule 72 – Income Inclusion for Corporations that Are Members of Multi-Tier Partnerships (2011 and later tax years)
- Schedule 73 – Income Inclusion Summary for Corporations that Are Members of Partnerships (2011 and later tax years)
- Schedule 307 – Newfoundland and Labrador Corporation Tax Calculation (2012 and later tax years)
- Schedule 322 – Prince Edward Island Corporation Tax Calculation (2012 and later tax years)
- Schedule 391 – Manitoba Neighbourhoods Alive! Tax Credit (2011 and later tax years)
- Schedule 461 – Northwest Territories Corporation Tax Calculation (2012 and later tax years)
- Schedule 481 – Nunavut Corporation Tax Calculation (2012 and later tax years)
Quebec:
- COR-17.X – Keying Summary of Form CO-130.A
- COR-17.Y – Keying Summary of Form CO-771.1.3
- COR-17.Z – Keying Summary of Form CO-1137.E
- CO-1029.8.36.HE – Crédit d'impôt pour modernisation d'un établissement d'hébergement touristique (Tax Credit for the Modernization of a Tourist Accommodation Establishment)
- CO-1029.8.36.HF – Entente concernant le plafond annuel du crédit d'impôt pour modernisation d'un établissement d'hébergement touristique (Agreement Respecting the Annual Limit of the Tax Credit for the Modernization of a Tourist Accommodation Establishment)
- CO-1029.8.36.MA – Crédit d'impôt relatif à la diversification des marchés d'une entreprise manufacturière québécoise (Tax Credit Relating to the Market Diversification of a Quebec Manufacturing Company)
N.B.: As of the time of release, no English courtesy translations are currently available for the above-mentioned Quebec forms.
In-house form:
- Data used in tax calculations
Revised forms
Federal:
- Schedule 200 – T2 Corporation Income Tax Return
- Schedule 5 – Tax Calculation Supplementary - Corporations (2012 and later tax years)
- Schedule 7 – Aggregate Investment Income and Active Business Income (2011 and later tax years)
- Schedule 17 – Credit Union Deductions (2008 and later tax years)
- Schedule 32 – Scientific Research and Experimental Development (SR&ED) Expenditures Claim
- Schedule 341 – Nova Scotia Corporate Tax Reduction for New Small Businesses (2013 and later tax years)
- Schedule 346 – Nova Scotia Corporation Tax Calculation (2013 and later tax years)
- Schedule 500 – Ontario Corporation Tax Calculation (2012 and later tax years)
- Schedule 502 – Ontario Tax Credit for Manufacturing and Processing (2012 and later tax years)
- Schedule 558 – Ontario Production Services Tax Credit (2009 and later tax years)
Quebec:
- CO-17 – Corporation Income Tax Return
- CO-17.SP – Information and Income Tax Return for Non-Profit Corporations
- COR-17.W – Sommaire des champs à saisir des déclarations des sociétés (Keying Summary for Corporation Returns)
- CO-17.A.1 – Net Income for Income Tax Purposes
- CO-130.A – Capital Cost Allowance
- CO-502 – Election in Respect of a Dividend Paid Out of a Capital Dividend Account
- CO-771.1.3 – Associated Corporations' Agreement Respecting the Allocation of the Business Limit and Calculation of the Business Limit
- CO-1029.8.33.6 – Tax Credit for an On-the-Job Training Period
- CO-1029.8.33.13 – Tax Credit for the Reporting of Tips
- CO-1029.8.35(2009-08) – Tax Credit for Quebec Film Productions (production for which no labour expenditure was incurred before January 1, 2009)
- CO-1029.8.36.5 – Tax Credit for a Design Activity Carried Out by an Outside Consultant
- CO-1029.8.36.7 – Tax Credit for an In-House Design Activity
- CO-1029.8.36.CP – Tax Credit for the Construction of Public Access Roads and Bridges in Forest Areas
- CO-1029.8.36.DC – Election Respecting the Tax Credit for the Development of E-Business
- CO-1029.8.36.EM – Tax Credit Relating to Resources
- CO-1029.8.36.ES – Tax Credit for the Production of Sound Recordings
- CO-1029.8.36.FM – Tax Credit for Francization or for Training in the Manufacturing, Forestry and Mining Sectors
- CO-1029.8.36.ID – Cumulative Limit Allocation Agreement for the Tax Credit for Investment
- CO-1029.8.36.IN – Tax Credit for Investment
- CO-1029.8.36.PN – Tax Credit for Wages for an Innovation Project
- CO-1029.8.36.SD – Tax Credit for Wages Paid by a Corporation Carrying Out a Specified Activity in a Designated Site
- CO-1029.8.36.SM – Tax Credit for the Production of Performances
- CO-1029.8.36.SP – Tax Credit for Film Production Services
- CO-1029.8.36.TM – Tax Credit for Multimedia Titles
- CO-1137.E – Agreement Respecting the $1 Million Deduction
- CO-1138.1 – Agreement and Election Respecting the Deduction for Farming Corporations and Fishing Corporations
- CO-1159.2 – Compensation Tax for Financial Institutions
- MR-69 – Power of Attorney, Authorization to Communicate Information, or Revocation
- RD-222 – Deduction Respecting Scientific Research and Experimental Development Expenditures
- RD-1029.7 – Tax Credit for Salaries and Wages (R&D)
- RD-1029.8.6 – Tax Credit for University Research or Research Carried Out by a Public Research Centre or a Research Consortium
- RD-1029.8.16.1 – Tax Credit for Private Partnership Pre-Competitive Research
- RD-1029.8.9.03 – Tax Credit for Fees and Dues Paid to a Research Consortium
- TP-997.1 – Information Return for Tax-Exempt Entities
Deleted forms
Federal:
- Schedule 514 – Ontario Capital Tax on Financial Institutions (2009 and later tax years)
- Schedule 515 – Ontario Capital Tax on Other Than Financial Institutions (2009 and later tax years)
- Schedule 516 – Capital Deduction Election of Associated Group for the Allocation of Net Deduction (2009 and later tax years)
- Schedule 517 – Calculation of Ontario Capital Tax Investment Allowance for Financial Institutions (2009 and later tax years)
New keywords
In the Jurisdiction keyword group, pertaining to Quebec form CO-17 (Corporation Income Tax Return):
CONTRACT-OBJ : Object of the agreement to act as nominee (if applicable)
Use the keyword CONTRACT-OBJ to enter the object of the agreement to act as nominee (if applicable).
In the MultiMedia group, pertaining to Quebec form CO-1029.8.36.TM (Tax Credit for Multimedia Titles):
Cert-Number.m : Number of the qualification certificate issued by Investissement Québec
Use the keyword Cert-Number.m to enter the number of the qualification certificate issued by Investissement Québec for which a tax credit is being claimed.
In the TrainingCrQ group, pertaining to Quebec form CO-1029.8.33.6 (Tax Credit for an On-the-Job Training Period):
ID-Number : Identification number
Enter the identification number of the location where the training period took place.
Pertaining to federal Schedule 200 (T2 Corporation Income Tax Return), Quebec form CO-17 (Corporation Income Tax Return) and Alberta's AT1 Corporate Income Tax Return:
Disclaimer : Disclaimer to print at the end of the tax return
If the firm requires a disclaimer, use the Disclaimer keyword and either enter a desired disclaimer statement or choose the option "Generic disclaimer" to indicate the following disclaimer: "Prepared without audit or review from information supplied by management".
The user-defined disclaimer will then be printed at the end of all income tax returns.
In the Cred-Film group, pertaining to Quebec form CO-1029.8.36.SM (Tax Credit for the Production of Performances):
- CertificateNo.c : Certificate number
Use the keyword CertificateNo.c to enter the certificate number of the Société de développement des entreprises culturelles (SODEC).
- MUSICALCOMEDY : Whether the production of performance is a musical comedy
Use the keyword MUSICALCOMEDY to indicate whether or not the production of performance is a musical comedy.
In the Tips group, pertaining to Quebec form CO-1029.8.33.13 (Tax Credit for the Reporting of Tips):
In the SR&ED group, pertaining to Quebec form RD-222 (Deduction Respecting Scientific Research and Experimental Development Expenditures):
Ident-Number.t : Identification number of third party
Use the keyword Ident-Number.t to enter the identification number of the third party to whom payments were made.
In the ThirdParty group, pertaining to federal Schedule 32 (Scientific Research and Experimental Development (SR&ED) Expenditures Claim):
In the Cred-Film group, pertaining to Quebec form CO-1029.8.36.SP (Tax Credit for Film Production Services):
CertificateNo.f : Certificate number
Use the keyword CertificateNo.f to enter the certificate number of the Société de développement des entreprises culturelles (SODEC).
In the IncomeSource group, pertaining to federal Schedule 7 (Aggregate Investment Income and Active Business Income (2011 and later tax years)):
Section34-Adj : Amount calculated under section 34.2
In general, amounts included or deducted under subsections 34.2(2), 34.2(3), 34.2(4), 34.2(11), and 34.2(12) are deemed to have the same character and be in the same proportions as the partnership income to which they relate. For example, if a corporation receives $100,000 of partnership income for the partnership's fiscal period ending in its tax year, and that income is made up of $40,000 of active business income, $30,000 of income from property, and $30,000 as a taxable capital gain, the corporation's adjusted stub period accrual (ASPA) in respect of the partnership would be 40% active business income, 30% property income, and 30% taxable capital gains. Add or deduct only the proportion of the following amounts that is deemed under subsection 34.2(5) to be active business income:
add:
- the ASPA under subsection 34.2(2) (column 4 of Schedule 73);
- the income inclusion for a new corporate member of a partnership under subsection 34.2(3) (column 6 of Schedule 73);
- the previous-year transitional reserve under subsection 34.2(12) (column 12 of Schedule 73);
deduct:
- the previous-year ASPA under subsection 34.2(4) (column 5 of Schedule 73);
- the previous-year income inclusion for a new corporate member of a partnership under subsection 34.2(4) (column 7 of Schedule 73); and
- the current-year transitional reserve under subsection 34.2(11) (column 11 of Schedule 73).
In the Sound-Record group, pertaining to Quebec form CO-1029.8.36.ES (Tax Credit for the Production of Sound Recordings):
Cert-Number.s : Number of the favourable advance ruling or final certificate
Use the keyword Cert-Number.s to enter the number of the favourable advance ruling or final certificate.
In the SR&EDTaxCrQ group, pertaining to Quebec form RD-1029.8.6 (Tax Credit for University Research or Research Carried Out by a Public Research Centre or a Research Consortium):
NEQ-LinkAgency : NEQ of linkage agency commissioned to carry out research [Que. L.109b]
These are recognized linkage agencies for purposes of the Quebec credit for SR&ED carried out under a university research or eligible research contract. The linkage agency entered here will be indicated as such on the RD-1029.8.6 schedule.
In the RelatedParty group, pertaining to Quebec form CO-1029.8.36.HF (Agreement Respecting the Annual Limit of the Tax Credit for the Modernization of a Tourist Accommodation Establishment):
TOURISM-EXPLIM : Tourism expenditure limit allocated to associated corp (CO-1029.8.36.HF)
For purposes of Quebec form CO-1029.8.36.HE, an eligible corporation's eligible expenditure limit, for a taxation year, will correspond to $750,000, unless it became associated with one or more other corporations during the taxation year.
For purposes of Quebec form CO-1029.8.36.HF, where the eligible corporation becomes associated with one or more other corporations during its taxation year, the $750,000 eligible expenditure limit must be covered by a sharing agreement within the group of associated corporations. Use the keyword TOURISM-EXPLIM to enter the eligible expenditure limit allocated to the associated corporation.
In the Amended group, pertaining to the federal T2 Bar Code Return:
ReasonChange.a : Reason for change
For amended returns, please enter a relevant description of changes using the keyword ReasonChange.a.
The T2 Bar Code Return (T2 BCR) captures information from an amended return. The amended T2 BCR must include all returns and schedules, i.e. not only the returns and schedules revised. All schedules included in the amended T2 BCR are considered as amended. This means data from amended schedules will overlay the previous data.
An amended T2 BCR cannot be used to change the following information:
- 200010: Head office address change
- 200020: Mailing address change
- 200030: Location of books and records change
- 200910, 200914 and 200918: Direct deposit information
- 200990: Language of correspondence
In the new group Partner-Inc-Inclus , pertaining to federal Schedules 71 (Income Inclusion for Corporations that Are Members of Single-Tier Partnerships (2011 and later tax years)), 72 (Income Inclusion for Corporations that Are Members of Multi-Tier Partnerships (2011 and later tax years)) and 73 (Income Inclusion Summary for Corporations that Are Members of Partnerships (2011 and later tax years)):
-
Partner-Inc-Inclus : Whether the corporation is an existing or new member of a single-tier or multi-tier partnership
Use the keyword Partner-Inc-Inclus to indicate whether the corporation is an existing or new member of a single-tier or multi-tier partnership.
-
Partner-Share.p : Corporation's share of the partnership's income or loss
Use the keyword Partner-Share.p to enter the corporation's share of the partnership's income, loss, capital gain or loss and resource expenses.
- Discretionary-Amt : Discretionary amount designated by the corporation
Use the keyword Discretionary-Amt to enter the discretionary amount designated by the corporation. The corporation might have to include in its income an income shortfall adjustment to account for under-reported income when the corporation has made a discretionary designation to reduce the ASPA inclusion for a previous tax year.
- Partner-Name.p : Partnership's name
Use the keyword Partner-Name.p to enter the partnership's name. If this is an existing partnership, the same name must also be entered in the RelatedParty group in order to allow entry of other data pertaining to the partnership.
- PIN-ID.p : Partnership's account number
Use the keyword PIN-ID.p to enter the partnership account number of a new partnership.
- PartnerShare-Inc : Corporation's share of new partnership's income
Use the keyword PartnerShare-Inc to enter the corporation's share of a new partnership's income.
- Designated-Amt : Amount designated by corporation
Use the keyword Designated-Amt to enter the amount designated by a new corporate member of a partnership.
- Particular-Period : # of days in particular period/corp. & particular period
Use the keyword Particular-Period to enter the number of days in the particular period and the number of days in both the particular period and the corporation's tax year.
- PERIODE.SP : Adjusted stub period accrual or base year
Use the keyword Period.p to choose adjusted stub period accrual or base year.
- CORP-INCOME : Corp.'s income before deducting the reserve and amounts under sections 61.3 & 61.4
Use the keyword CORP-INCOME to enter the corporation's income before deducting the reserve and amounts under section 61.3 & 61.4.
- AvgDaily-IntRate : Prescribed average daily interest rate
Use the keyword AvgDaily-IntRate to enter average daily interest rate prescribed under paragraph 4301(a) of the Income Tax Regulations.
https://www.canada.ca/en/revenue-agency/services/tax/prescribed-interest-rates.html
- TRANSRESERVE-LIM : To limit transitional reserve claimed
Use the keyword TRANSRESERVE-LIM if you wish to claim less than the transitional reserve allowed.
- EAI-PRIORYR : Eligible alignment income from previous year
Use the keyword EAI-PRIORYR to enter the amount of eligible alignment income from the previous year. This amount is used in the calculation of the adjusted amount of qualifying transitional income.
- ASPA-PriorYr : Adjusted stub period accrual from base year
Use the keyword ASPA-PriorYr to enter the adjusted stub period accrual from base year. This amount is used in the calculation of income shortfall adjustment.
- DiscretAmt-PriorYr : Discretionary amount designated from base year
Use the keyword DiscretAmt-PriorYr to enter the discretionary amount designated from base year. This amount is used in the calculation of income shortfall adjustment.
- QTI-CF : Qualifying transitional income & adjusted qualifying transitional income carried forward
Use the keyword QTI-CF to enter the qualifying transitional income and the adjusted qualifying transitional income carried forward. This amount is used in the calculation of the transitional reserve.
- TRANSRESERVE-CF : Transitional reserve from previous year
Use the keyword TRANSRESERVE-CF to enter the transitional reserve claimed in the previous year.
- StubDays-OV : Number of days in stub period /ov
Use the keyword StubDays-OV to override the number of days calculated for the stub period.
- PartnerDays-OV : Number of days in partnership's fiscal year if not 365 or 366 for a leap year
Use the keyword PartnerDays-OV if the number of days in the partnership's fiscal year is not 365 or 366 for a leap year.
- BaseDays-OV : # of days in both base year and fiscal period of partnership /ov
Use the keyword BaseDays-OV to override the number of days in both the base year and the fiscal period of partnership.
- BasePartDays-OV : # of days in the fiscal period of the partnership /ov
Use the keyword BASEPARTDAYS-OV to override the number of days in the fiscal period of the partnership.
- SPEC-PERCENT-OV : Specified percentage regarding transitional reserve /ov
Use the keyword SPEC-PERCENT-OV to override the specified percentage regarding transitional reserve.
- Elect-Align-OV : Elect to change fiscal period-end /ov
Use the keyword Elect-Align-OV if the partnership is eligible to and wishes to change fiscal period end.
- PARTNER-SHARE.PA : Corp.'s share of partnership's income or loss for eligible alignment income
Use the keyword PARTNER-SHARE.PA to complete Part 2, Eligible alignment income.
- QTI : Is the corporation eligible for qualifying transitional income?
Use the keyword QTI to indicate if the corporation is eligible for qualifying transitional income this year.
- EAI-PRIORYR.P : Eligible alignment income in the previous year
Use the keyword EAI-PRIORYR.P to enter eligible alignment income in the previous year. Select the option "EAI when ASPA is 34.2(1)(b)(ii)" if the eligible alignment income was calculated when the ASPA (adjusted stub period accrual) was also calculated under subparagraph 34.2(1)(b)(ii).
- SPEC-PERCENT-CF : Specified percentage
Use the keyword SPEC-PERCENT-CF to enter the specified percentage. This percentage is used in the calculation of the transitional reserve.
- IncInclus-PriorYr : Income inclusion for a new corporate member of a partnership from the prior year
Use the keyword IncInclus-PriorYr to enter the income inclusion for a new corporate member of a partnership from the prior year.
- Section34-Income : Character of income included under section 34.2
Use the keyword Section34-Income to choose the character of the income included under section 34.2. In general, amounts included or deducted under subsections 34.2(2), 34.2(3), 34.2(4), 34.2(11), and 34.2(12) are deemed to have the same character and be in the same proportions as the partnership income to which they relate. For example, if a corporation receives $100,000 of partnership income for the partnership's fiscal period ending in its tax year, and that income is made up of $40,000 of active business income, $30,000 of income from property, and $30,000 as a taxable capital gain, the corporation's adjusted stub period accrual (ASPA) in respect of the partnership would be 40% active business income, 30% property income, and 30% taxable capital gains.
- YearBegin.p : Beginning date of partnership's fiscal period
Use the keyword YearBegin.p to enter the beginning date of partnership's fiscal period.
- YearEnd.p : Year-end of partnership
Use the keyword YEAREND.P to enter the year-end of the new partnership.
In the new MARKET-DIVERS group, pertaining to Quebec form CO-1029.8.36.MA (Tax Credit Relating to the Market Diversification of a Quebec Manufacturing Company):
- MARKET-DIVERS : Tax credit relating to the market diversification of a QC manufacturing company
Use the keyword MARKET-DIVERS if the corporation is claiming a tax credit relating to the market diversification of a Quebec manufacturing company.
- CERTIFICATE# : Number of the certification issued
Use the keyword CERTIFICATE# to enter the number of the certification issued.
- ISSUEDATE : Date of issue of the certification
Use the keyword ISSUEDATE to enter the date of issue of the certification.
- CERTORG-NAME : Name of certification organization
Use the keyword CERTORG-NAME to enter the name of the certification organization.
- CERTORG-NUMBER : Number of certification organization
Use the keyword CERTORG-NUMBER to enter the number of the certification organization.
- MARKET : Market for commercialization
Use the keyword MARKET to enter the market for which the products are commercialized.
- ELIGIBLEPRODUCT : Description of eligible product
Use the keyword ELIGIBLEPRODUCT to enter a description of the eligible product.
- CERTEXP-ALLYRS : Certification expenses incurred in the year or a previous year
Use the keyword CERTEXP-ALLYRS to enter certification expenses incurred in the year or a previous year and paid.
- ASSISTANCE.MA : Assistance, benefit or advantage attributable to certification expenses
Use the keyword ASSISTANCE.MA to enter any government assistance, non-government assistance, benefit or advantage attributable to the eligible certification expenses.
- REPAYMENT.MA : Assistance, benefit or advantage repaid in the year
Use the keyword REPAYMENT.MA to enter assistance, benefit or advantage attributable to certification expenses of a prior year and repaid (or deemed to be repaid) by the corporation in the year.
- PREV-YR-INFO.MA : Information about previous years
Use the keyword PREV-YR-INFO.MA to enter information about the previous years.
In the new TOURISM group, pertaining to Quebec form CO-1029.8.36.HE (Tax Credit for the Modernization of a Tourist Accommodation Establishment):
- TOURISM : Credit for the modernization of a tourist accommodation establishment
Use the keyword TOURISM if the corporation is claiming a credit for the modernizaton of a tourist accommodation establishment (CO-1029.8.36.HE).
- ESTABLISHMENT.T : Eligible tourist accommodation establishment
Use the keyword ESTABLISHMENT.T to enter the name of the eligible tourist accommodation establishment.
- STREET.H : Street of the tourist accommodation establishment
Use the keyword STREET.H to enter the street of the tourist accommodation establishment.
- CITY.H : City of the tourist accommodation
Use the keyword CITY.H to enter the city of the tourist accommodation establishment.
- PROVINCE.H : Province of the tourist accommodation establishment
Use the keyword PROVINCE.H to enter the province of the tourist accommodation establishment.
- POSTCODE.H : Postal code of the tourist accommodation establishment
Use the keyword POSTCODE.H to enter the postal code of the tourist accommodation establishment.
- ESTABLISH-TYPE : Type of eligible tourist accommodation establishment
Use the keyword ESTABLISH-TYPE to select the type of eligible tourist accommodation.
- PARTNER-INFO.HE : Type of relationship partnership is involved in
Use the keyword PARTNER-INFO.HE to indicate whether the partnership is an eligible partnership whereby the corporation is a member, an intermediary partnership whereby the corporation is a member, or an eligible partnership whereby the corporation is a member by an intermediary partnership.
- PARTNER-NAME.HE : Partnership's name
Enter the name of the partnership using the keyword PARTNER-NAME.HE, for purposes of the CO-1029.8.36.HE. The same name must also be entered in the keyword Name.re within the RelatedParty group in order to allow entry of other data pertaining to the partnership.
- CONTRACTOR : Contractor's name
Use the keyword CONTRACTOR to enter the name of the contractor performing the eligible work.
- REPAYMENT.HE : Repayment of assistance for a previous taxation year
Use the keyword REPAYMENT.HE to enter the amount relating to a tax credit for assistance in a previous tax year repaid in the current year.
- QST.HE : QST number of contractor
Use the keyword QST.HE to enter the QST number of the contractor.
- STREET.HE : Street of contractor
Use the keyword STREET.HE to enter the street of the contractor.
- CITY.HE : City of contractor
Use the keyword CITY.HE to enter the city of the contractor.
- PROVINCE.HE : Province of contractor
Use the keyword PROVINCE.HE to enter the province of the contractor.
- POSTCODE.HE : Postal code of the contractor
Use the keyword POSTCODE.HE to enter the postal code of the contractor.
- SIN.HE : Social insurance number of the contractor
Use the keyword SIN.HE to enter the social insurance number of the contractor.
- DESC-WORK : Description of work done and assets acquired
Use the keyword DESC-WORK to enter a description of the work done and the assets acquired.
- LICENCENO : Contractor's licence number, if applicable
Use the keyword LICENCENO to enter the contractor's licence number, if applicable. For example, an appropriate licence issued by the Régie du bâtiment du Québec, the Corporation des maîtres électriciens du Québec or the Corporation des maîtres mécaniciens en tuyauterie du Québec.
- CONS-TOTAL : Total consideration
Use the keyword CONS-TOTAL to enter the total consideration.
- AMT-PAIDINYEAR : Consideration paid in year
Use the keyword AMT-PAIDINYEAR to enter the consideration paid in the year.
- ROOMS : Rooms (including bathrooms)
Use the keyword ROOMS to select the type of eligible work performed in the rooms, including the bathrooms.
- DININGROOMS : Dining rooms
Use the keyword DININGROOMS to select the type of eligible work performed in dining rooms.
- INT-PUBLIC-AREAS : Interior facilities that constitute public areas
Use the keyword INT-PUBLIC-AREAS to select the type of eligible work performed in interior facilities that constitute public areas.
- EXT-STRUCTURES : Exterior structure of building
Use the keyword EXT-STRUCTURES to select the type of eligible work performed on the exterior structure of the building, in particular the facing, roofing, doors and windows.
In the RelatedParty group, pertaining to Quebec form CO-1029.8.36.HE (Tax Credit for the Modernization of a Tourist Accommodation Establishment):
- PrevYr-Revenue : Total revenue of the partnership in the previous tax year
Use the keyword PrevYr-Revenue to enter the partnership's total revenue for the previous tax year. This is used to determine eligibility for the credit for the modernization of tourist accommodations (CO-1029.8.36.HE).
- Tot-PrevYr-Assets : Total assets of related party at previous tax year end
Tot-PrevYr-Assets is used to determine eligibility for the credit for the modernization of tourist accommodations (CO-1029.8.36.HE)
In the new FedEfile-Result group:
- FedEfile-Result : Transmission results
Upon completion of an efile session, DT Max will automatically enter any results in the keyword FedEfile-Result .
- Error-code.fed : Federal efile error codes
DT Max will automatically enter any federal efile error codes in the keyword Error-code.fed.
Deleted keywords
In the TrainingCrQ group, pertaining to Quebec form CO-1029.8.33.6 (Tax Credit for an On-the-Job Training Period):
REMOTE-REGION : Remote resource regions of Quebec (if applicable)
In the Cred-Film group, pertaining to Quebec form CO-1029.8.36.SP (Tax Credit for Film Production Services):
SPECIALTAXFACTOR : Period qualified exp. was incurred for special tax purposes
In the IncomeSource group, pertaining to federal Schedule 7 (Aggregate Investment Income and Active Business Income (2011 and later tax years)):
RESERVE-SPI : Prior year reserve deducted
In the RelatedParty group, pertaining to deleted federal Schedule 515 (Ontario Capital Tax on Other Than Financial Institutions (2009 and later tax years)):
PERM-ESTAB : Related party's permanent establishment in Canada
In the PART-13-INST group, pertaining to deleted federal Schedule 514 (Ontario Capital Tax on Financial Institutions (2009 and later tax years)):
DEPTAKING-INST : Whether corp is a deposit-taking institution and/or related to one
In the RelatedParty group, pertaining to Schedule 34 (Taxable Capital Employed in Canada – Financial Institutions (2010 and later tax years)):
TAXABLE-CAP.RE : Taxable capital employed in Canada (sch. 34)
In the RelatedParty group, pertaining to deleted Schedule 516 (Capital Deduction Election of Associated Group for the Allocation of Net Deduction (2009 and later tax years)):
In the CorpHistory group, pertaining to deleted Schedules 516 (Capital Deduction Election of Associated Group for the Allocation of Net Deduction (2009 and later tax years)) and 517 (Calculation of Ontario Capital Tax Investment Allowance for Financial Institutions (2009 and later tax years)):
ONT-ALLOC : Previous year Ontario allocation
In the RelatedParty group, pertaining to deleted Schedule 517 (Calculation of Ontario Capital Tax Investment Allowance for Financial Institutions (2009 and later tax years)):
In the TaxOnCapital group, pertaining to Quebec form CO-17 (Corporation Income Tax Return):
TAXABLECAP% : % of taxable capital subject to tax on cap, if non res.
New options
For new keyword Disclaimer, pertaining to federal Schedule 200 (T2 Corporation Income Tax Return), Quebec form CO-17 (Corporation Income Tax Return) and Alberta's AT1 Corporate Income Tax Return:
Generic disclaimer
Other (specify)
For keyword Tip-Info, pertaining to Quebec form CO-1029.8.33.13 (Tax Credit for the Reporting of Tips):
Adjustment - underage employees
For new keyword Estim-Product , pertaining to federal Schedule 558 (Ontario Production Services Tax Credit (2009 and later tax years)):
Estimated qualifying production expenditures
For keyword Prev-Yr-Info , pertaining to federal Schedule 558 (Ontario Production Services Tax Credit (2009 and later tax years)):
Ontario production expenditures - all prev. yrs
New options for keyword Contract.exp , pertaining to federal Schedule 32 (Scientific Research and Experimental Development (SR&ED) Expenditures Claim):
Before Jan. 1, 2013
After Dec. 31, 2012
NAL contract expenditures incurred in the year
For keyword Net-Inc-Add , pertaining to federal Schedule 1 (Net Income (Loss) for Income Tax Purposes (2011 and later tax years)):
Income from joint ventures
Loss from joint ventures
For keyword ProvCreditOV , pertaining to federal Schedule 5 (Tax Calculation Supplementary - Corporations (2012 and later tax years)):
Data processing centre ITC - Man.
Nutrient management tax credit - Man.
Shipbuilding and ship repair industry tax credit - B.C.
For keyword Days-FinIns , pertaining to Quebec form CO-1159.2 (Compensation Tax for Financial Institutions):
Days in tax yr after Dec. 31/2012
For keyword Wages-FinIns , pertaining to Quebec form CO-1159.2 (Compensation Tax for Financial Institutions):
Total salaries after Dec. 31, 2012
For keyword Net-Inc-Ded , pertaining to Quebec form CO-17.A.1 (Net Income for Income Tax Purposes):
Tax relief for public transport organized by employer - Qc
For keyword Net-Inc-Ded , pertaining to federal Schedule 1 (Net Income (Loss) for Income Tax Purposes (2011 and later tax years)):
Partnership income elig. for tax relief - curr. yr
For keyword Letter-Data , pertaining to the Client letter:
CO-1029.8.36.HF - Agreement - Tourist accommodation [0=No, 1=Yes]
For keyword Account , pertaining to Quebec form MR-69 (Power of Attorney, Authorization to Communicate Information, or Revocation):
Solidarity tax credit
Appl. for Registr. GST, QST, source ded., tax
Sales recording module
For keyword Cancel.rep , pertaining to Quebec form MR-69 (Power of Attorney, Authorization to Communicate Information, or Revocation):
Revoke all powers of attorney
For keyword Que-Credits , pertaining to Quebec form CO-17 (Corporation Income Tax Return):
Hiring of employees for financial services corp.
New financial services corporation
Production of multimedia events and environments
Share issue expenses (REA II)
For keyword Special-Tax , pertaining to Quebec form CO-17 (Corporation Income Tax Return):
Hiring of employees - financial services corp.
New financial services corporation
Diversification of markets
Modernization of tourist accomodations
Prod. of multimedia events and environments
Share issue expenses (REA II)
Deleted options
For keyword REPAYMENT.M , pertaining to Quebec form CO-1029.8.36.TM (Tax Credit for Multimedia Titles):
Repayment of assistance (before 13/06/2003)
For keyword REPAYMENT.CO , pertaining to Quebec form CO-1029.8.36.CP (Tax Credit for the Construction of Public Access Roads and Bridges in Forest Areas):
After Mar. 23, 2006 and before Oct. 23, 2006
For keyword ProvCreditOV , pertaining to federal Schedule 5 (Tax Calculation Supplementary - Corporations (2011 and later tax years)):
Small business ITC - Ontario
Small business ITC repayment -Ontario
For keyword Type-Sh , pertaining to federal Schedule 50 (Shareholder Information (2006 and later taxation years)):
For keyword Sal&Wages , pertaining to federal Schedule 502 (Ontario Tax Credit for Manufacturing and Processing (2012 and later tax years)):
Ontario manufacturing labour cost - override
Ontario labour cost - override
For keyword OntActivity , pertaining to federal Schedule 524 (Ontario Specialty Types (2009 and later tax years)) :
Condo / co-op housing corporation
For keyword PaidUpCap , pertaining to federal Schedule 514 (Ontario Capital Tax on Financial Institutions (2009 and later tax years)):
Accumulated other comprehensive income (Fed)
For Taxable-Cap , pertaining to federal Schedule 514 (Ontario Capital Tax on Financial Institutions (2009 and later tax years)):
Accumulated other comprehensive income
Deductible SR&ED expenditures
Message from the CRA: NAICS codes (reminder)
We have been notified by the CRA that they have still been receiving numerous corporate returns with invalid NAICS codes, even though the information regarding the changes brought to the NAICS codes was made public back in March (please refer to "What's new for T2 Internet version 15.15?" in our Knowledge Base for details).
We wish to remind you that the integration of NAICS codes requires corporations to pick their main revenue-generating business activity. Active corporations that file their T2 returns either by Internet or on paper using 2D bar codes must choose the most appropriate code to describe their main revenue-generating business activity.
It is crucial that the most accurate business activity is selected using the keyword NAICS-ACT in the Activity keyword group. The corporation should validate that the business description chosen for the last return filed is still accurate. Please check the entry for the NAICS code and make sure it is still a valid one. If your selection is part of the list, then the code is a valid one. If your option is no longer part of the list, please delete the invalid code and re-enter an existing one that best describes the main revenue-generating business activity.
December 14, 2012
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